"Hey, Mr. Xu, I want to ask you for a favor. ”

"What's the favor, I just want you to introduce me to Senior Brother Dongfang Yu, I want to talk to him about cooperation. ”

Zhang Yida said with some embarrassment, he knew that Xu Xiaoming and Senior Brother Dongfang Yu had a very unpleasant quarrel when they co-founded New Western Company before.

I heard that once Dongfang Yu learned that Xu Xiaoming led his employees to carry out a "revolution" and opposed his reforms, so he directly asked Xu Xiaoming's office to be occupied.

When Xu Xiaoming went to work, he saw someone else sitting in his office, and he was almost speechless.

In short, there are various contradictions and conflicts between the two when they are in the company.

In the end, Xu Xiaoming was kicked out of New Western Company and founded Zhenke Fund.

However, although Zhang Yida and Dongfang Yu are alumni, they have never met, and they don't even have contact information.

So I can only bite the bullet and ask Xu Xiaoming for help.

After Xu Xiaoming on the other side of the phone heard Zhang Yida's words, he didn't speak for a long time, smashed his mouth, and then slowly said, "Okay, what are you talking about?" ”

Zhang Yida said: "I founded a venture capital fund called Huayi Capital, and I have invested in 2 projects, Toutiao and Didi, and am now looking for LP investors. ”

Xu Xiaoming said bitterly: "Yida, your company is getting bigger and bigger, but there are more and more things that you need to deal with, and they are becoming more and more complicated."

Now Ruixiang is still starting a business, but you were distracted halfway to set up a venture capital fund, so I don't know what to say about you. It's the end of the book!"

Zhang Yida hurriedly said: "Here I want to explain that Huayi Capital was founded by me and Lei Dongming. In the future, he will leave to take charge of Huayi Capital, and my career focus is still sharp. ”

As soon as he heard this, Xu Xiaoming's face changed slightly, and he said, "Okay, I'll contact him and arrange a meeting for you." It's up to you whether you can achieve it or not, and I can't help you with anything else, and it doesn't work for me to talk in front of him. ”

Zhang Yida hurriedly thanked: "Thank you, Mr. Xu, just introduce the following, and I'll do the rest myself." ”

Xu Xiaoming asked a few more questions about Toutiao and Didi, and then hung up the phone.

Then Zhang Yida dialed Zhou Chengdong's phone again.

"Teacher Zhou, it's me, Zhang Yida. I would like to ask if you know Senior Brother Robin Lee?"

"Oh, there was a one-sided relationship, but I didn't know each other, right?"

"Can you help me contact him through the alumni association? Okay, thank you so much, Mr. Zhou. ”

Zhou Chengdong said with a smile: "You kid haven't come to see me for a long time recently, have you forgotten me, an old man?"

Zhang Yida smiled and said: "How can it be? Isn't this too busy? Ruixiang has been preparing for Series B financing recently, and there are too many things to deal with." ”

After chatting with Zhou Chengdong for a few minutes, he hung up the phone.

Following.

Inside the office of the chairman of the board of directors of New Western Education Corporation.

looked at Dongfang Yu, who was fifty years old in front of him, wearing a pair of black-framed glasses, a bit like a university teacher. Zhang Yida and Lei Dongming first introduced their intentions, then took a sip of tea and waited for his reply.

Dongfang Yu was silent for a moment, did not reply immediately, but said with a smile:

"Listen to Lao Xu, Senior Brother Zhang, your Ruixiang is already valued at one billion dollars? It's really amazing, we were still in school at your age at that time, and we were full of confusion about the future. ”

Zhang Yida thought to himself, you are confused, it is estimated that the university has already thought about opening training classes outside to make money.

Zhang Yida responded modestly: "Senior Brother Dongfang, you have won the award, your conditions are different at that time." I have caught up with the good entrepreneurial era, and I have the blessing of venture capital when I start my business, otherwise the company estimates that it will have to nest in the innovation and innovation center to accumulate strength a little bit. ”

Dongfang Yu nodded, this is the truth. When I started my own business, I didn't have any venture capital, and I started by making money slowly as a student. It took more than ten years before the company was pulled to complete the listing, and there were blood and tears along the way!

Today's children start their own businesses, and the journey is full of flowers and applause. Didn't I hold a training class outside of class time at that time, and I was punished by the school, and the whole school notified and evaluated. let himself lose face, and finally resigned helplessly.

Retracting his thoughts, Dongfang Yu returned to the topic: "What projects has your venture capital fund invested in at present? ”

Zhang Yida began to introduce: "We are currently involved in Toutiao, as well as Didi's C and C+ round investments.

Since it is a US dollar fund, the minimum investment threshold is $1 million.

3+2 mode, 3 years duration, 2 years extension.

The fund fee is composed of two parts, and the annual fixed management fee is charged at 2% of the fund share.

The compound annual return of the fund is more than 8%, and 20% of the fund's income is charged as performance remuneration.

The compound annual return rate of the fund is higher than 16%, and 25% of the fund's income is paid.

The compound annual return rate of the fund is higher than 24%, and 30% of the fund's income is charged.

......

The compound annual return rate of the fund is higher than 56%, and 50% of the fund's income is paid.

Taking the return rate of 56% as an example, the fifth power of 1.56 is 9.24, and the 5-year fund income with the principal reaches 9.24 times the investment principal, and after deducting the principal, we receive 50% of the fund income performance remuneration.

Based on the guaranteed rate of return of 8%, the fifth power of 1.08 is 1.46, and the 5-year fund income and principal reach 1.46 times the principal, and after deducting the principal, 20% of the fund income will be charged as performance remuneration.

The five-year joint principal is less than 1.46 times, and the $1 million growth is less than $1.46 million, and no performance remuneration is charged. ”

Although it was a bit of a twist, Dongfang Yu still understood.

The investment is 1 million US dollars, and a fixed management fee of 20,000 US dollars per year is charged.

In 5 years, you can't earn 0.46 times the principal, that is, $460,000 in earnings, and you don't receive performance compensation.

If you earn 8.24 times that is, $8.24 million in income in 5 years, you will receive 50% of the performance remuneration, with venture capital institutions getting $4.12 million and investors getting $4.12 million.

Dongfang Yu thinks that this rate is not outrageous, after all, it is an annual compound rate of return, and it is compound interest, not simple interest.

Warren Buffett's compound annual rate of return is only 21%, 56%, which is simply overturned.

Dongfang Yu quipped: "Do you think your Huayi Capital has a chance to reach a compound annual rate of return of 56%?"

Zhang Yida looked at Dongfang Yu and said with a smile: "Toutiao and Didi are both invested in the company at a valuation of about $1 billion, and when they reach a valuation of $10 billion, they can achieve a compound annual rate of return of 56%." ”

Dongfang Yu laughed, his New Western Education has been listed for eight years, and the market value is only a few billion dollars, and a market value of 10 billion US dollars is not easy to say.

Dongfang Yu pondered for a moment and said, "That's it, Senior Brother Zhang, I invested 1 million US dollars in your Huayi Capital, which can be regarded as a little support from the old seniors." Well done!"

Zhang Yida is a little sad in his heart, his qualifications are still too lacking! It is a little difficult to find LP investors, no, only the senior brother with a net worth of more than one billion dollars is willing to take $1 million out to test the water.

Zhang Yida pretended to be happy and said: "Thank you for the support of the seniors, I will do my best to do a good job in the fund." ”

Then, Zhang Yida went to Qiandu to visit Senior Brother Robin Li.

Robin Lee is in his forties, still very handsome and handsome, and a charming middle-aged uncle.

When the alumni association recommended a young talented young junior who wanted to visit him, he did not refuse and expressed his welcome.

Zhang Yida came to Robin Lee's office, briefly talked about his intentions, and then introduced Huayi Capital.

Robin Lee spent a few years on Wall Street as a young man, and Qiandu also received venture capital stocks, so he is very familiar with venture capital.

He said directly: "Senior Brother Yida, venture capital is a high-return and high-risk industry, and it requires a lot of experience to operate well.

Technology, management, business model, and capital operation must be understood. You have to be able to look at people and projects.

Vision, experience, and ability are all indispensable.

As far as I know, Ruixiang has only been established for less than a year. Unless you bring Ruixiang to the market, you can't let me rest assured that I will invest my funds in you. ”

Zhang Yida is not angry, he knows that Robin Lee has lived overseas for many years, and his speech is somewhat Western-style and more straightforward.

Zhang Yida began to analyze the business models of Didi and Toutiao for him, and sketched out the future development prospects.

After listening to Robin Lee, his attitude was much better than before. Replied:

"Your analysis is very reasonable, and these two companies have heard you say this, and I also think that the development prospects are very good. However, you can really only be considered a newcomer in the venture capital industry, and I can't give you too much investment. ”

Zhang Yida was a little disappointed, and hitting the wall again and again really hit his self-confidence.

Seeing that Zhang Yida was a little lost, Robin Lee reassured: "Don't feel lost, nothing can be done overnight." You're young, and I'm far worse than you when you're your age. ”

Zhang Yida waved his hand again and again, this is a big man, and he can't afford to be praised so highly. Hurriedly said: "Senior brother, I understand all this, and I still thank you very much for your support." ”

Robin Lee smiled: "I appreciate your vision and ability, the only thing you lack is experience." I'm going to invest $2 million in you this time, so don't be too little. It doesn't matter what the final benefit of the $2 million is.

As long as you bring Ruixiang to the market, if you still want to be a venture capitalist, I will invest 10 million US dollars in you. ”

Zhang Yida was a little moved by these words, and he was not so disappointed, after all, this can be regarded as a kind of view of himself!

Bidding farewell to Robin Li, Zhang Yida returned to the office rented by Huayi Capital and discussed countermeasures with Lei Dongming.

The two bigwigs have invested a total of $3 million, which is far from their ideal $137.5 million, which is not enough for a fraction.

After thinking about it, Lei Dongming said: "In this way, I will go to Sou Raccoon to find my former colleagues, and Charles Zhang can also try it, I can raise a little more!"

After Zhang Yida pondered for a moment, he raised his eyelids and looked at Lei Dongming, I thought of a way.

"What's the solution?" asked Lei Dongming.

Zhang Yida smiled confidently and said:

"Let Yimin Wealth and other third-party wealth management companies distribute it on behalf of them. ”

"Ahh

Zhang Yida glanced at him, looked to the side, and said:

"Let them let the wind go, Dongfang Yu and Robin Lee have both invested in our fund. ”

"That's not good! What if the big guy gets angry? And this leaks the customer's privacy!"

Lei Dongming said with some frowns.

"I can't care so much, let's get enough of this 100 million first. I'm really angry, I'll come to apologize in person!" Zhang Yida also said helplessly.

"That's it! It's all private placement, and it's not publicized in public, so that their wealth management institutions should pay attention to it when they preach to customers!"

Lei Dongming gave advice.

Zhang Yida nodded slightly, thinking that he would never go into battle in person to raise funds in the future, and if he didn't have money, he wouldn't invest!